A: Serengeti Resources, $0.14, symbol SIR on the Toronto Venture Exchange (Shares outstanding: 86.6 million; Market cap: $12.1 million; www.serengetiresources.com), is currently working in partnership with South Korea’s Posco Daewoo Corp. on the Kwanika copper-gold project in B.C. The mining site is just one of Serengeti’s properties in the Quesnel Trough area of the province.
Posco Daewoo is Korea’s largest trading company and a subsidiary of giant Posco Corp.
Serengeti now holds 65% of the Kwanika joint venture. Posco Daewoo contributed $7.0 million to the project in late 2017 for the remaining 35% stake. About $700,000 of that investment goes to Serengeti for its operation of the site.
The rest of the $7.0 million will be used to fund a pre-feasibility study to further analyze the economic viability of building a mine. That includes a substantial drilling program to target the central copper-gold zone of the Kwanika property. Drilling should start this summer.
An earlier preliminary economic assessment of the site called for a..
Privacy Policy and Terms of Use
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Changes to this Policy
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